China announced Wednesday it has hit 12 Japanese auto parts makers, including Sumitomo Corp., Mitsubishi Electric Corp. and Denso Corp., with 1.24 billion yuan ($202 million) in fines for their involvement in an alleged price-fixing scheme, ramping up its recent push to enforce its anti-monopoly law in the world’s largest auto market.
Berkshire Hathaway Inc. will pay $896,000 for failing to give the Federal Trade Commission and Department of Justice a proper heads up before it more than doubled its stock ownership in USG Corp., assenting to the maximum possible penalty after getting off with a warning for a similar offense last year, the DOJ said Wednesday.
The Tenth Circuit has given the green light for a federal regulator to proceed in its claims against banks over $1.74 billion of soured mortgage bond deals that capsized two credit unions, saying the U.S. Supreme Court's recent CTS Corp. decision did not upend its original opinion that the suits were not time-barred.
The president of Argentina on Tuesday announced a plan to pay holders of its sovereign debt outside of the reach of U.S. courts, after a New York federal judge blocked a payment to bondholders who agreed to restructurings, which led the country to default for the second time in 13 years.
Media General Inc. and LIN Media LLC on Wednesday announced an amendment to their $1.6 billion merger, with both sides reiterating their commitment to the deal and confirming it is still on track to be completed early next year.
British construction giant Carillion PLC dropped its bid Wednesday to acquire Balfour Beatty PLC to that would spawn a $5.1 billion construction and infrastructure services giant, after the rival's board of directors declined to request an extension to a looming deadline following three public rejections of Carillion's pursuit of an acquisition.